PNM Resources Management to Meet with Investors

PNM Resources Management to Meet with Investors
2014 ongoing earnings guidance range to be affirmed during meetings
Business Wire
ALBUQUERQUE, N.M. -- April 21, 2014
PNM Resources (NYSE: PNM) management will meet with analysts and investors
this week.
Management is expected to affirm the company’s 2014 consolidated ongoing
earnings guidance range of $1.42 to $1.52 per diluted share during the
meetings. Presentation materials are available on the company’s website at
http://www.pnmresources.com/investors/events.cfm.
Background:
PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque,
N.M., with 2013 consolidated operating revenues of $1.4 billion. Through its
regulated utilities, PNM and TNMP, PNM Resources has approximately 2,572
megawatts of generation capacity and serves electricity to more than 746,000
homes and businesses in New Mexico and Texas. For more information, visit the
company’s website at www.PNMResources.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995
Statements made in this news release that relate to future events or PNM
Resources’ (“PNMR”), Public Service Company of New Mexico’s (“PNM”), or
Texas-New Mexico Power Company’s (“TNMP”) (collectively, the “Company”)
expectations, projections, estimates, intentions, goals, targets, and
strategies are made pursuant to the Private Securities Litigation Reform Act
of 1995. Readers are cautioned that all forward-looking statements are based
upon current expectations and estimates. PNMR, PNM, and TNMP assume no
obligation to update this information. Because actual results may differ
materially from those expressed or implied by these forward-looking
statements, PNMR, PNM, and TNMP caution readers not to place undue reliance on
these statements. PNMR's, PNM's, and TNMP's business, financial condition,
cash flow, and operating results are influenced by many factors, which are
often beyond their control, that can cause actual results to differ from those
expressed or implied by the forward-looking statements. For a discussion of
risk factors and other important factors affecting forward-looking statements,
please see the Company’s Form 10-K and Form 10-Q filings with the Securities
and Exchange Commission, which are specifically incorporated by reference
herein.
Non-GAAP Financial Measures
The Company uses ongoing earnings, ongoing earnings per diluted share (or
ongoing diluted earnings per share), earnings before interest, taxes,
depreciation and amortization (EBITDA) and funds from operations (FFO) to debt
to evaluate the operations of the Company and to establish goals for
management and employees. While the Company believes these financial measures
are appropriate and useful for investors, they are not measures presented in
accordance with generally accepted accounting principles in the U.S. (GAAP).
The Company does not intend for these measures, or any piece of these
measures, to represent any financial measure as defined by GAAP. Furthermore,
the Company’s calculations of these measures as presented may or may not be
comparable to similarly titled measures used by other companies. The Company
uses ongoing earnings, EBITDA and FFO to debt guidance to provide investors
with management's expectations of ongoing financial performance over the
period presented. While the Company believes ongoing earnings, EBITDA and FFO
to debt guidance are appropriate measures, these are not measures presented in
accordance with GAAP. The Company does not intend for ongoing earnings, EBITDA
and FFO to debt guidance to represent expectations of net earnings or
operating cash flow as defined by GAAP. Management is generally not able to
estimate the impact of the reconciling items between ongoing earnings, EBITDA
and FFO to debt guidance and forecasted GAAP earnings or operating cash flows,
nor their probable impact on GAAP earnings or operating cash flow; therefore,
management is generally not able to provide a corresponding GAAP equivalent
for ongoing earnings, EBITDA and FFO to debt guidance.
Contact:
PNM Resources
Analysts
Jimmie Blotter, 505-241-2227
Media
Pahl Shipley, 505-241-2782